Banc of California, Inc. (NYSE:BANC) Shares Acquired by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC boosted its holdings in Banc of California, Inc. (NYSE:BANC) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,084 shares of the bank’s stock after purchasing an additional 664 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Banc of California were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BANC. GAMMA Investing LLC grew its stake in shares of Banc of California by 32.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,005 shares of the bank’s stock valued at $44,000 after buying an additional 734 shares during the period. World Investment Advisors LLC boosted its holdings in Banc of California by 4.5% in the third quarter. World Investment Advisors LLC now owns 18,082 shares of the bank’s stock valued at $266,000 after acquiring an additional 779 shares during the last quarter. FMR LLC grew its position in Banc of California by 5.8% during the third quarter. FMR LLC now owns 20,659 shares of the bank’s stock valued at $304,000 after acquiring an additional 1,126 shares during the period. The Manufacturers Life Insurance Company increased its stake in Banc of California by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 77,384 shares of the bank’s stock worth $989,000 after acquiring an additional 1,939 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Banc of California in the 3rd quarter worth about $29,000. 86.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BANC shares. Wells Fargo & Company upgraded Banc of California from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $20.00 in a report on Monday, January 6th. StockNews.com raised shares of Banc of California from a “sell” rating to a “hold” rating in a research report on Friday. DA Davidson lifted their target price on shares of Banc of California from $16.50 to $19.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Citigroup started coverage on Banc of California in a report on Thursday, October 10th. They issued a “neutral” rating and a $15.00 price target for the company. Finally, Raymond James boosted their price objective on Banc of California from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Banc of California has an average rating of “Moderate Buy” and an average price target of $18.10.

Banc of California Stock Performance

NYSE:BANC opened at $16.00 on Friday. Banc of California, Inc. has a one year low of $11.88 and a one year high of $18.08. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $16.17 and its 200 day simple moving average is $15.04.

Banc of California (NYSE:BANC) last announced its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Banc of California had a positive return on equity of 2.93% and a negative net margin of 20.75%. Research analysts forecast that Banc of California, Inc. will post 0.71 earnings per share for the current year.

Banc of California Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, December 16th. Banc of California’s dividend payout ratio is currently -9.37%.

Banc of California Company Profile

Banc of California, Inc operates as the bank holding company for Banc of California that provides various banking products and services in California. The company offers deposit products, such as checking, savings, money market, demand, and time deposits; certificates of deposit; retirement accounts; and safe deposit boxes.